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June 21, 2022
If I wanted to go to there, I wouldn’t start from here
The quote above is an anecdotal story of an Irishman giving an Englishman travel directions… and after twelve years of Conservative led governments I’m not sure that it is an inappropriate summary of how the United Kingdom got to where it is today. Nor am I sure where ‘there’ is either, given the current state of world affairs, continuing Covid issues and post Brexit difficulties. What the UK faces at the moment is a crisis of government at the centre of which are concerns about its leader, Boris Johnson. read more
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Dec. 28, 2021
Nuclear power and natural gas: what lies behind EU inconsistencies?
On December 21, the European Commission has just presented the new “state aid for climate, environmental protection and energy” regime, the main objective of which is to facilitate the achievement of the 2030 and 2050 climate objectives by authorising subsidies for all technologies contributing to the energy transition. However, nuclear power is excluded, while natural gas-based electricity production is covered. Why such an inconsistency? read more
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May 25, 2021
Europe vs. America: the federal governance matters
Europe and America have been strikingly different in terms of the Corona-era big-relief packages, and the roll out of Covid-19 vaccination. These differences are rooted in differences in their federal governance. Governance differences in the federal system matters also for migrants skill composition, tax burden, and the generosity of the welfare state. read more
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May 6, 2021
UK: there’s something in the air – and it does not smell too good!
Despite its success with the vaccine campaign, the British government has not really had a good time since the outbreak of the Covid pandemic, nor since the United Kingdom left the European Union, whilst most recently it has found itself mired in a series of damaging leaks about the way in which it conducts its relation with certain business interests. Three areas of activity suggest a government which will not be known by historians for its competence and even its honesty. read more
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Feb. 24, 2021
Africa’s food security requires accurate trade statistics
Africa’s trade flows, particularly in the agriculture and food products sector, are known to be very underestimated, suggesting there is a considerable margin of error. This greatly hampers the continent's governments in making policies for food security. Yet some improvements are in sight. A well-structured partnership between private operators, apex organizations, national statistical institutes, and international institutions can make an important contribution to improving Africa’s international trade statistics. read more
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Feb. 16, 2021
Claims of electoral fraud are as American as apple pie
For a non-American observer, US presidential elections can be quite surprising. On top of a system of Electors and swing states, voting by mail or without a voter ID seems an open door for fraud. But claims of electoral fraud are nearly as ancient as the US democracy, and point to the conflicting views of many voters towards immigration and minorities. Federalism prevents any harmonization across states. read more
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Jan. 20, 2021
Facebook, Twitter, ending the hypocrisy
Can Twitter and Facebook still say, after censoring the President of the United States, that they have no editorial responsibility for the content they publish? To ask the question is to answer it. This calls for enhancing regulation. But how? read more
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June 26, 2020
European funds and southern Italian regions: a critical view
At this stage of the Covid-19 crisis, there is a purpose on the table (among others) to use ordinary European Funds for emergency, without constraints. This is the opportunity to focalize the attention of public opinion in terms of the resources that Europe gives to Southern Italian regions, in particular, due to the fact that they are unable to spend. read more
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June 25, 2020
Post Covid-19 economy: state capitalism with expiration date
Public spending is bound to intensify over the coming months and even years. Increased spending will undoubtedly go hand-in-hand with increased scrutiny and demand for fiscal discipline. An old ally – the SWF – might indeed be governments’ best hope in balancing public responsibility with private interests in a post-pandemic economy. read more
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June 24, 2020
COVID-19 in developing countries: whatever it takes?
Latin American and African countries, in particular those that are more connected to the world economy, are already experiencing the economic impact: collapse in commodity prices, falling tourists’ revenues, drop in remittances, massive capital outflows. There is need for a global and effective response to the virus. read more
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May 9, 2020
Eurozone auf Wiedersehen?
With its recent ruling on the EBC's QE programm, the German Federal Constitutional Court just crossed the Rubicon and for the first time ever nullifies action by an EU institution (the ECB) which had been declared fully legal by another EU institution (the ECJ) – and on the basis of economic arguments on which it has no expertise. It now remains to be seen what will happen. read more
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March 29, 2019
Let’s not oppose climate policies and purchasing power! Lessons from the French climate transition
Rising green taxes on gasoline initially sparked the “Yellow Jackets” movement in November 2018. The winter of discontent that came with the tax riots reminds us of the importance of reconciling protection of purchasing power with that of the climate. read more
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July 19, 2018
Drowning, not waving: the UK and Brexit
So far Mrs May has been able to hold her party together – there currently seems to be no desire for a leadership challenge from those dissatisfied with her proposals, and there is no readily apparent leader in waiting. A challenge may come later in the year, especially if the government is seen as making any further concessions to the EU. Meanwhile preparations for a No Deal outcome are under consideration. Thus, the British government is not quite drowning and is certainly not waving. But its boat is certainly unstable. read more
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May 23, 2018
Fiscal money is an illusion, not a solution
In their recent Telos post, a group of Italian economists who name themselves the Group of Fiscal Money assert that Credit Tax Certificates, which are tax assets, would not increase the Italian government deficit and would even contribute to curtail the debt burden. I am not convinced by their argumentation. read more
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May 23, 2018
Fiscal money as a solution to Italian eurowoes
As fiscal rules constrain Italy’s ability to reflate demand by issuing debt, and with monetary policy being as accommodative as it gets, an alternative instrument is required. Fiscal Money provides such instrument. Our proposal is for government to issue transferable and negotiable bonds, which bearers may use for tax rebates two years after issuance. read more
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Jan. 17, 2018
Réconcilier solidarité et discipline de marché dans la zone euro
La zone euro goûte enfin au bonheur d’une reprise robuste. La tentation est forte pour les responsables politiques de baisser la garde. Ce serait une grave erreur car la monnaie unique reste vulnérable. Quatorze économistes français et allemands, considérant que la polarisation du débat entre solidarité (entre États membres) et responsabilité (au niveau de chacun d’entre eux) constitue une fausse alternative, proposent six réformes… read more
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Jan. 15, 2018
Haute tension en Argentine: les suites de l’affaire du juge Nisman
Vingt-quatre ans après l’attaque terroriste à la bombe contre l’AMIA, mutuelle juive de Buenos Aires, qui fit 85 morts et plus de 200 blessés, et la mort en 2015 du juge Nisman chargé de l’enquête, la police et la justice argentines progressent dans leur recherche des auteurs de la mort du juge Nisman, et de ceux de l’attentat de l’AMIA, dans un climat tendu… read more
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March 30, 2016
Protect or innovate? Of Marseille Soap and other traditional products
How to protect non-food products which are emblematic of a geographical area? The European Commission is working on the extension of both protected designation of origin (PDO) and protected geographical indication (PGI) system for non-agricultural products. What are the challenges? Is such a regulation adapted? read more
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March 11, 2016
Boris Johnson, tea bags and the complexity of law
Boris Johnson, in his plea for Brexit, develops the familiar theme of excess of niggling and stupid standards coming from Brussels. But the proliferation of legal texts is not to be blamed on the European Union. It reflects the tensions between conflicting aspirations of a complex society, the demand for ever greater security and the refusal of any hazard. read more
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Feb. 24, 2016
Does France really need solar roads?
Contrary to its neighbors and partly due to the low cost of its nuclear electricity, until recently France did not show much interest in solar energy. The country now seems to be catching up. Public policies are implemented, both to encourage households and to foster an industry which has not yet reached maturity. Only thing is, one can hardly make sense of some of these policies. read more
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